August 17: The sixth edition of the Newbiz B-School Ratings, Ranking and Awards has kicked off amid a programme in the capital today.

Speaking at the inauguration of the awards ceremony, Madan Lamsal, editor-in-chief of New Business Age, said that the country must focus on quality education at a time when our economy is driven by remittance.

“We cannot sustain our economy driven by remittance. We need capable human resources which is possible through education,” said Lamsal, adding, “It is the government’s responsibility to ensure quality education so that the students of Nepal do not have to go abroad for higher education.”

According to the organizers, the best colleges will be awarded in four different categories from among more than 2,300 business schools across the country.

A total of 16 colleges will be awarded in four different categories during the award distribution ceremony that started at 4 pm today afternoon (August 17). The organizers informed that three best colleges for MBA/MBS, three each for BBA/BBS, three best colleges for BHM and one college from each of the seven provinces will be honored during the event.

Among them, one best college in the first three categories will be given trophies and certificates, while certificates will be distributed to the second and third-position holders.

Similarly, certificates will be given to the best colleges in each province.

A panel discussion among experts on the topic of 'Future of Management Education' is also scheduled during the programme.

An independent jury consisting of experts from various fields have selected the best school after phase-wise evaluation. According to the jury, 602 out of 2,300 schools were shortlisted based on the website of the schools.

Around 300 schools were selected in the second stage based on the school's mission, vision and slogan. A total of 57 schools were selected in the third round on the basis of five years of operation.

According to the jury, quality and standard, educational infrastructure, quality of academic activities, student-led activities, entrepreneurship promotion programme, relationship with real professional organizations, and employment opportunities were taken into consideration while selecting the school for the awards.

The main sponsor of the program is Prabhu Bank Limited, while Yamaha, Mahalaxmi Bikas Bank Ltd, Tata Nexon, Everest Bank, Hama Steel, United Insurance, DishHome Fiber Net and Nepali Patro are the co-sponsors of the event.